TastyWorks Trading Platform Review 2018

The TastyWorks trading platform is designed to help investors use options to lower their cost basis and help them better understand reward-to-risk ratios when trading. Tom Sosnoff, who co-founded thinkorswim® which he sold to TD Ameritrade in 2009, has supported the development of TastyWorks, which is designed to empower investors to better manage their nest-eggs. To help investors achieve that goal, Tastyworks provides powerful tools, screeners, and extensive education at low costs.

For a long time, thinkorswim® was the benchmark platform among options traders because of its low costs, powerful tools, highly customizable screeners and analytics, and knowledgeable staff. With TastyWorks, it’s clear that the executive team is aiming to supplant thinkorswim® as the industry standard trading platform serving self-directed, fee-conscious, active traders.

TastyWorks Spotlight

Commissions: $5 flat rate for stocks; $1 per contract for options to open

via tastyworks secure site

TastyWorks Customers

TastyWorks caters to self-directed stock, options and futures traders who have an eye on costs and are keen to take an active role in managing their portfolios.

TastyWorks makes no bones about who its target customers are: self-directed stock, options and futures traders. Tom Sosnoff wants investors to engage more with their portfolios. He is no fan of passive investing nor of robo-advisors, and this bias towards encouraging investors to become more active in managing their own portfolios is reflected in the depth of tools and educational content available on the TastyWorks platform.

Experienced options traders are a primary target audience for TastyWorks – this is evident not least from the innovative pricing structure which allows options traders close positions at no cost. Tom Sosnoff has frequently advocated for the benefits of selling options that expire worthless, and hence incur no closing costs anyway. So, while the offer of free closing trades may in part be smart marketing, many active options traders will still see a lot of value in the pricing structure.

TastyWorks is best for:

Experienced traders

Options traders

Futures traders

Stock traders

Self-directed investors

Investors keen on learning more

TastyWorks Promo Deal

TastyWorks, which competes with OptionsXpress, OptionsHouse and thinkorswim®, for the business of active options traders stands apart from its rivals by offering zero commissions costs on closing contracts.

$0 commission to close options contracts

TastyWorks Pros and Cons

TastyWorks is an excellent choice of broker for active, cost-conscious stock, options and futures traders seeking powerful tools, customizable screeners and extensive back-testing capabilities. For traders on the go, TastyWorks offers a fully responsive mobile experience. Clients may also be pleasantly surprised to discover that TastyWorks’s CEO regularly chimes in to answer customer queries, highlighting the company’s customer-centric focus. We found members of the customer support team to be knowledgeable, efficient and professional.

TastyWorks Pros

TastyWorks Cons

✅ Customer Support: 24/7 phone support as well as live chat and email support plus a highly knowledgeable support staff distinguishes TastyWorks from many of its competitors.

❌ New Platform: While the team that built TastyWorks is proven in having built arguably the industry standard platform in options trading, thinkorswim®, they must still climb a high mountain to add and improve upon all the bells and whistles to the TastyWorks platform that are available on other platforms.
New products and features are still being added but if past history is an indicator of the type of trading platform the team can build, the future is bright for TastyWorks.

✅ Research & Education: As expected by a broker committed to delivering to traders the education and research needed to make informed trading decisions, TastyWorks provides top notch market research, which it leverages from its team at sister company, TastyTrade.

Live daily programming is provided on a broad range of topics, including probability, volatility and strategies.

✅ Advanced Tools, Screeners and Analyzers: As expected from the founders of thinkorswim®, advanced tools, screeners, and analyzers are built into the TastyWorks platform to allow for highly customizable screens and extensive back-testing.

✅ Fees & Commissions: TastyWorks commissions are among the most competitive in the industry:

$5 flat fee for stocks

$1 per contract for options to open

$0 to close options contracts

$2.50 per contract for futures

ACH deposits and withdrawals are free and no annual maintenance fee on IRAs is in place. No platform, inactivity or data fees are charge by TastyWorks either.

✅ Mobile Trading: TastyWorks is mobile responsive with apps for android and iOS expected and fast enough to trade quickly for traders on-the-go.

TastyWorks Securities

TastyWorks does not feature mutual funds on its platform; they conflict philosophically with the goal of the team to empower traders to become stewards of their own portfolios – as opposed to buying mutual funds that compensate portfolio managers.

Stocks

Options

Futures

TastyWorks Fees

TastyWorks has no data or inactivity fees, no account balance minimums and no commissions charge for closing options trades. A flat fee is charged for stock transactions and fees are incurred for closing IRA accounts.

Security

Fees

Stocks

$5 flat fee

Options

$1 per contract to open
$0 commissions to close

Mutual Funds

NA

Margin rate range

5.00% – 8.00%

Exercise and assignment

$5

Account Balance Minimum

$0

Data Fees

$0

Inactivity Fees

$0

Fees

Inactivity Fees: $0
IRA Closure Fee: $60

TastyWorks Platform Features

Type

Capability

Desktop

YES

Web-based

YES

Mobile

YES

Virtual Trading

YES

Back-testing Tools

YES

Screeners

YES

Customer support

Phone Support 24/7
Email
Live Chat

Real-time quotes

YES

Research

YES

Chart Tools

YES

No-transaction-fee Mutual Funds

NO

TastyWorks Account Types

Type

Capability

Individual Cash

YES

Individual Margin

YES

Traditional IRA

YES

Roth IRA

YES

Corporate

YES

Partnership

YES

Trust

YES

TastyWorks Summary

TastyWorks may be the new kid on the block when it comes to stocks, options and futures trading platforms but it’s a serious rival to its competitors, thinkorswim®, OptionsXpress and OptionsHouse. For traders looking for powerful tools, extensive back-testing, and extensive screening capabilities, combined with low fees, TastyWorks has much to offer.

We are excited to hear from you and want you to love your time at Investormint. Please keep our family friendly website squeaky clean so all our readers can enjoy their experiences here by adhering to our posting guidelines. Never reveal any personal or private information, especially relating to financial matters, bank, brokerage, and credit card accounts and so forth as well as personal or cell phone numbers. Please note that comments below are not monitored by representatives of financial institutions affiliated with the reviewed products unless otherwise explicitly stated.

And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.

Whether a trading novice or experienced professional, our Intro to Technical Analysis Guide will give you a clear advantage in today's fast moving markets. This 30+ page FREE resource is designed to give you a head start in learning the basics of various technical analysis tools & techniques. Download It Today!

More Investing

Brand-new special report you can download immediately. It's called the "Ultimate Guide to Price Pattern Trading." If you've ever wanted to read the markets like a crystal ball and not use old, tired, over-used technical indicators than this is for you. Imagine trading at the lowest risk entry points, way ahead of typical lagging indicators. Grab your free download now.

DISCLAIMER: YOUR USE OF THE PLATFORM, INVESTORMINT Services OR Collective Material SHALL BE SOLELY AT YOUR OWN RISK. YOU ACKNOWLEDGE AND AGREE THAT INVESTORMINT DOES NOT HAVE AN OBLIGATION, BUT RESERVES THE RIGHT FOR ANY REASON, TO (A) MONITOR OR REVIEW User Material; OR (B) CONDUCT IDENTITY VERIFICATION, BACKGROUND OR REGISTERED SEX OFFENDER CHECKS ON ANY MEMBER, INCLUDING BUT NOT LIMITED TO INVESTORMINT Partners AND CUSTOMER MEMBERS. THE PLATFORM IS PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED. WITHOUT LIMITING THE FOREGOING, INVESTORMINT AND ITS AFFILIATES AND SUBSIDIARIES, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS EXPLICITLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT OR NON-INFRINGEMENT; ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF OR IN TRADE; ANY WARRANTIES, REPRESENTATIONS, OR GUARANTEES IN CONNECTION WITH THIS PLATFORM OR THE INVESTORMINT Services OFFERED ON OR THROUGH THIS PLATFORM; AND ANY WARRANTIES RELATING TO THE QUALITY, SUITABILITY, TRUTH, ACCURACY OR COMPLETENESS OF ANY INFORMATION OR MATERIAL CONTAINED OR PRESENTED ON THIS PLATFORM, INCLUDING WITHOUT LIMITATION ALL Collective Material. INVESTORMINT MAKES NO WARRANTY THAT THE PLATFORM OR INVESTORMINT Services WILL MEET YOUR REQUIREMENTS OR BE AVAILABLE ON AN UNINTERRUPTED, SECURE, OR ERROR-FREE BASIS. INVESTORMINT ASSUMES NO RESPONSIBILITY, AND SHALL NOT BE LIABLE FOR ANY DAMAGES TO YOUR COMPUTER EQUIPMENT OR OTHER PROPERTY ON ACCOUNT OF YOUR ACCESS TO OR USE OF THE PLATFORM. INVESTORMINT SHALL NOT BE LIABLE FOR ANY DEFAMATORY, OFFENSIVE, OR ILLEGAL CONDUCT OF ANY THIRD PARTY, OR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF ANY DATA, INFORMATION, MATERIALS, SUBSTANCE, OR Collective Material POSTED, TRANSMITTED, OR MADE AVAILABLE VIA THE PLATFORM. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM INVESTORMINT OR THROUGH THE PLATFORM, WILL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN.

INVESTORMINT MAY BE COMPENSATED THROUGH THIRD PARTY ADVERTISERS. HOWEVER, WE STRIVE TO OFFER INDEPENDENT RESEARCH, ANALYSIS, COMPARISONS AND REVIEWS. FOR MORE INFORMATION, PLEASE SEE OUR ADVERTISER DISCLOSURE.

YOU ARE SOLELY RESPONSIBLE FOR ALL OF YOUR COMMUNICATIONS AND INTERACTIONS WITH OTHER USERS OR MEMBERS OF THE PLATFORM AND WITH OTHER PERSONS WITH WHOM YOU COMMUNICATE OR INTERACT AS A RESULT OF YOUR USE OF THE PLATFORM, INCLUDING BUT NOT LIMITED TO ANY CUSTOMER MEMBERS, INVESTORMINT Partners OR SERVICE RECIPIENTS. YOU UNDERSTAND THAT INVESTORMINT DOES NOT MAKE ANY ATTEMPT TO VERIFY THE STATEMENTS OF USERS OF THE PLATFORM OR TO REVIEW OR VET ANY INVESTORMINT Services. INVESTORMINT MAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE CONDUCT OF USERS OF THE PLATFORM OR THEIR COMPATIBILITY WITH ANY CURRENT OR FUTURE USERS OF THE PLATFORM. YOU AGREE TO TAKE REASONABLE PRECAUTIONS IN ALL COMMUNICATIONS AND INTERACTIONS WITH OTHER USERS OF THE PLATFORM AND WITH OTHER PERSONS WITH WHOM YOU COMMUNICATE OR INTERACT AS A RESULT OF YOUR USE OF THE PLATFORM, PARTICULARLY IF YOU DECIDE TO MEET OFFLINE OR IN PERSON AND GIVE OR RECEIVE INVESTORMINT Services. INVESTORMINT EXPLICITLY DISCLAIMS ALL LIABILITY FOR ANY ACT OR OMISSION OF ANY USERS OR THIRD PARTIES.